Millennials Are Purchasing Homes Because of Their Pets

September 6, 2017 7:37 pm

02F19305According to market research firm, GfK, the millennial age group is leading the nation in pet adoption and dog ownership. While millennials are seemingly delaying traditional life milestones such as marriage and children, they are choosing to own a pet instead. Studies have shown that many millennials even turn to pets for ‘parenting practice’ before taking the leap to have children.

With millennials leading the U.S. in home buying age groups, it is no surprise that they are beginning to purchase homes that fit their needs and their pets’ needs. Unlike people in older age groups who purchased homes for reasons such as marriage and children, many millennials (ages 18-36) who have already purchased their first home were influenced to do so by the need to have space for a dog, according to NBC News and The Harris Poll.

Additionally, The Harris Poll survey showed that 42% of millennials who had not yet purchased their first home said that their dog, or the desire to have a dog, would play a key part in making their home buying decision. The reasoning behind this is that most homebuyers want to have outdoor space, such as a large yard for their dog and walking-friendly neighborhoods. Additionally, many rental properties tend to be very restrictive on pets and often charge pet fees as well as cleaning fees.

When you are ready to purchase a home, I would love to talk to you about your home buying options. Call me today to set up an appointment.

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